European stocks climb as Draghi hints at QE

European stocks rebounded on Friday after ECB president Mario Draghi said the central bank is ready to expand its asset purchasing programme if inflation in the eurozone continues to lag.

Speaking at a European banking conference in Frankfurt on Friday, Draghi said the central bank will take all the necessary steps to raise inflation as fast as possible. "If, on its current trajectory, our policy is not effective enough to achieve this, or further risks to the inflation outlook materialise, we would step up the pressure and broaden even more the channels through which we intervene, by altering accordingly the size, pace, and composition of our purchases," Draghi said. Although inflation in the currency union edged up to 0.4% in October, it remains well below the 2% tar...